Thank you for the kind introduction. I am honored to be here with Vice President Biden. I also would like to recognize the Economic Development Administration’s Deputy Assistant Secretary Brian McGowan and the regional director in EDA’s Philadelphia office, Willie Taylor, who are both here today.

Since the day the American Recovery and Reinvestment Act (ARRA) first passed last year, the Vice President has been making sure that taxpayer dollars are spent wisely, efficiently and quickly enough to spur economic activity in communities throughout the country.

At the Department of Commerce, we’re proud that our Economic Development Administration got all of its Recovery Act funds out the door one full year ahead of schedule.

In total, EDA invested $11 million in 17 projects here in Pennsylvania, the biggest of which was the project right here in Bethlehem.

I’m honored to be here at the groundbreaking for the 47,000 square-foot addition to the award-winning Ben Franklin TechVentures incubator, and I’m proud that EDA’s $6 million grant has helped make today’s groundbreaking happen.

This project will open the door to millions in private investment, expand capacity here for dozens of new companies and help put people to work.

Ultimately, supporting this incubator is about spurring the type of innovations that will generate new businesses and create new jobs that offer security, dignity and a sense of hope for the future.

It is another piece of the new foundation of American economic prosperity.

This project represents another step forward for Bethlehem, for Pennsylvania and for the country.